Energy-growth-globalization (EGG) nexus in N-11 countries

This study investigates the correlations of economic growth, energy consumption, and globalization in selected countries. For this purpose, the study gatheres data between 1984 and 2013 from 11 countries, where a panel causality test was employed using Kónya's (2006) approach based on the Seemingly Unrelated Regressions (SUR) system. Subsequently, the Wald test is conducted with a critical bootstrap value per country, in which the calculations obtained significant statistical figures per country. The results of the two-way causality test between economic growth and energy consumption were found in Egypt, Indonesia, Iran, South Korea, Nigeria, and Turkey. The results of the two-way causality test between globalization and economic growth are known in Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Philippines. Meanwhile, two-way causality between energy consumption and globalization exists in Bangladesh, Egypt, Indonesia, Iran, South Korea, Nigeria, Pakistan, Philippines, and Turkey. Based on these findings, strengthening cooperation is needed so that economic growth, energy consumption, and globalization continue to grow.